GBGI Begins Trading in AIM’s Largest Float in 2017 to Date (ALLIPO)
London – GBGI Limited, a benefits insurance company on Wednesday, 22nd February, 2017 saw the company’s shares rise as they began life as a company listed on London’s AIM.
GBGI – which is based in Guernsey is an insurance provider that underwrites life, healthy, disability, and travel products. The company also provides end-to-end insurance services. They have on Monday, 20 February raised 32.0 million pounds from their float after their their shares at 150.00 pence apiece.
As of Wednesday morning (today), the company’s share were up to 158.50p, way up 5.6% from the float price. According to the company representative, the company’s capitalization was 130.4 million pounds which implies it is the largest float on the AIM market so far this year going by the market capitalization.
Speaking on the achievement, GBGI’ chief executive, Bob Durbish said, “Our differentiated business model leverages both our agile underwriting capability and our scalable distribution platform, enabling us to access profitable opportunities in niche, underserved markets. We operate in a large, fragmented market, and there are significant growth opportunities for the group going forward,”
He added that the company being listed in AIM will help them to further raise the group’s profile and provide extra momentum to the company’s current growth strategy. ” We remain focused on delivering profitable, cash generative growth and paying an attractive level of dividends to our shareholders going forward,” he added.